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Tagged Content List
Blog Post:
Why the Energy Sector Needs Better Due Diligence & Risk Monitoring
Lisa Thompson
No industry is impervious to bribery and corruption risk, but companies linked to energy industries, in particular, face elevated risks in order to reap the equally-high rewards. It’s a topic we’ve touched on in blog posts on Unaoil and Petrobras . But anti-bribery and corruption regulations...
on
23 Aug 2018
Blog Post:
Compliance risk in the UK: what companies need to know
Lisa Thompson
The global compliance landscape is becoming ever more complex, and some of the most significant recent developments in ABC and AML legislation have happened in the UK. All companies who operate in the UK need to be aware of these laws, as well as growing consumer expectations of ethical behavior, if...
on
29 Aug 2018
Blog Post:
FCPA Corporate Enforcement Policy extended to M&A
Lisa Thompson
The U.S. Corporate Enforcement Policy, which incentivises companies to self-disclose bribery and corruption when they come across it, now applies to U.S. companies which are merging with or acquiring foreign companies. That’s according to a recent speech by a senior official at the Department of...
on
17 Sep 2018
Blog Post:
PEP-Talk: A Guide to Managing Risk from Politically Exposed Persons
Lisa Thompson
Politically Exposed Persons (PEPs) can be among a bank’s riskiest customers. Their public positions and ability to divert funds make them prime targets for bribery and corruption. But the financial services industry doesn’t face the risk alone. Our new “PEP-Talk” eBook outlines...
on
24 Sep 2018
Blog Post:
3 Reasons to Combine Due Diligence & Risk Monitoring
Lisa Thompson
Companies are exposed to regulatory, financial, reputational and strategic risks, and the number of countries and NGOs with compliance expectations is on the rise. The best way to proactively manage these expectations? Risk-based due diligence and ongoing monitoring. 1—Regulatory risks...
on
3 Oct 2018
Blog Post:
Failing to address sanctions risk leads to costly fine for one French bank
Lisa Thompson
French bank Société Générale expects to pay penalties of nearly $1.3 billion to settle allegations of breaching U.S.sanctions. It made dollar transfers on behalf of entities based in countries which were subject to U.S.sanctions. The fine is just the latest evidence of the...
on
4 Oct 2018
Blog Post:
A new No. 1: Petrobras agrees to biggest FCPA settlement
Lisa Thompson
Petrobras has reached a $1.78 billion settlement with the DOJ and SEC over bribes to politicians and political parties in Brazil. This is the first time an enforcement action over FCPA violations has exceeded a billion dollars. The amount is bigger than the nearest two settlements combined, and the case...
on
5 Oct 2018
Blog Post:
2 Reasons why companies need to conduct risk assessments of their own compliance programs
Lisa Thompson
As the aftermath of corporate corruption and ethics scandals continue to play out in news headlines and courtrooms, spurring a continued search for expert advice and best practices on mitigating compliance risk . So, when a former compliance expert at the U.S. Department of Justice (DOJ) and a Harvard...
on
8 Oct 2018
Blog Post:
Which countries are exporting bribery and corruption risk?
Lisa Thompson
Three quarters of the world’s biggest exporting countries are failing to punish corporations that pay bribes overseas, according to a new report from the NGO Transparency International. The report shows that there are vast differences in the level of risk of bribery and corruption in different...
on
12 Oct 2018
Blog Post:
Can companies use ISO 37001 to help eradicate poverty?
Lisa Thompson
Twenty-five years ago, the United Nations General Assembly declared October 17th International Day for the Eradication of Poverty . In marking the anniversary, the UN has stated that … “all people must come together to end poverty and discrimination in order to build a sustainable future...
on
17 Oct 2018
Blog Post:
Amp Up Energy Sector due diligence with ongoing risk monitoring
Lisa Thompson
A few years ago, we highlighted bribery and corruption vulnerabilities in the Energy sector, noting that “Companies linked to energy industries, in particular, face elevated risks in order to reap the equally high rewards.” But more recent events highlight the need for companies in this sector...
on
24 Oct 2018
Blog Post:
Is the Defense Industry armed to beat corruption risk?
Lisa Thompson
Corruption is a significant problem—no matter what sector it originates in. But a recent report from corruption watchdog Transparency International takes aim at one industry in particular: Defense. The report notes, “While it may be true that much has changed over the last two or three decades...
on
29 Nov 2018
Blog Post:
Enter the ninja: A disciplined approach to defeat regulatory risk
Lisa Thompson
Forget about the turtles. Today is International Ninja Day, but what we’re on about has more to do with regulatory risk than teenagers or (as far as we know) mutants. Why does International Ninja Day make us think ‘compliance program’? International Ninja Day was the brainchild of...
on
5 Dec 2018
Blog Post:
Tackling corruption risk to improve human rights
Lisa Thompson
2018 marks the anniversary of a multitude of different political as well as social turning points in human history. While the festivities commemorating the end of World War I were widely broadcasted and spoken about, two anniversaries often fall short of the public's attention: The 70th anniversary...
on
6 Dec 2018
Blog Post:
The Foreign Corrupt Practices Act—2018 review
Lisa Thompson
2018 has been a record year of penalties issued for breaches of the Foreign Corrupt Practices Act (FCPA). Settlements totaling more than $2.96 billion were agreed by corporations found to be in breach of the Act. The year saw further indications of the FCPA’s global reach, witnessed the first judgments...
on
20 Dec 2018
Blog Post:
Weighing risk and opportunity in Latin America
Lisa Thompson
Despite recent Foreign Corrupt Practices Act (FCPA) enforcement actions, there are signs of more positive engagement with governance and compliance in Latin America. Emerging markets offer attractive opportunities for investors, but businesses aiming to capitalize will need to prioritize robust due diligence...
on
16 Jan 2019
Blog Post:
Why Universities & Foundations Need Stronger Risk Management Processes
Lisa Thompson
Is it time for universities—and the foundations that fundraise on their behalf—to adopt the rigorous due diligence and risk monitoring processes that global companies use? Based on the latest bribes-for-admission scandal to hit the headlines, the answer is a resounding, “YES!”...
on
2 Apr 2019
Blog Post:
Bribery Scheme Costs Telecom Company $850 Million
Lisa Thompson
The telecommunications sector has taken some hits in recent years when it comes to anti-bribery and corruption compliance . Earlier this month, the U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC) announced a settlement related to FCPA violations by Russia’s largest...
on
4 Apr 2019
Blog Post:
What global anti-corruption compliance trends are on the OECD's radar?
Lisa Thompson
This year is the 20th anniversary of the implementation of the OECD’s Anti-Bribery Convention. So, we went to Paris to meet Patrick Moulette, Head of the OECD Anti-Corruption Division. He explained that the global spread of negotiated settlements, particularly Deferred Prosecution Agreements, prompted...
on
9 Apr 2019
Blog Post:
Operation Varsity Blues Makes the Case for ISO 37001 Adoption
Lisa Thompson
Is anyone really surprised by the college admissions bribery scandal? Sure, it’s nice to think that academia is a bastion for the best and the brightest. But there’s a longstanding tradition where the family name—and perhaps an endowment—greases the wheels for less academically...
on
12 Apr 2019
Blog Post:
1.1 Billion Reasons Companies Need a Robust FCPA Compliance Process
Lisa Thompson
There were only three FCPA enforcement actions in the first quarter of 2019, but the small number obscures a bigger threat to corporate bottom lines—fines totalling $1.1 billion. This figure eclipses the total settlements in Q1 2018—also for three corporate enforcement actions—of a...
on
17 Apr 2019
Blog Post:
Frontline compliance requires expert juggling
Lisa Thompson
There’s no room for clowning about when it comes to risk management and maintaining the integrity of international business. According to records of ancient Chinese history, the armies of the Chu and Song states were facing each other in readiness for battle in 630 BC when a Chu warrior, Xiong...
on
18 Apr 2019
Blog Post:
Compliance beyond the corporate perimeter: Department of Justice guidance on evaluating compliance program effectiveness emphasises third-party due diligence
Lisa Thompson
Is your corporate compliance program up to scratch? That question will be top of mind for global organizations as they analyze recent guidance from the U.S. Department of Justice (DOJ) on evaluating the effectiveness of compliance programs. The detailed guidance explains the features of robust compliance...
on
9 Jul 2019
Blog Post:
Sponsorship reversal shows compliance risks to art world
Lisa Thompson
One of Britain’s most famous art institutions has reversed a sponsorship deal after it was revealed that the sponsor’s owner had backed a ban on teaching LGBT issues. As art organizations, universities and non-profits become more reliant on sponsorship rather than government funding, they...
on
11 Jul 2019
Blog Post:
Expert Q&A: Dechert’s Caroline Black on the Changing Landscape of Anti-bribery and Corruption Compliance
Lisa Thompson
Caroline Black is a partner in the white-collar crime team at the London-based law firm Dechert LLP. She has worked on several large multi-jurisdictional anti-corruption and bribery cases and advised major companies on putting in place adequate compliance and due diligence procedures. Speaking to LexisNexis...
on
17 Sep 2019
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